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InvenTrust details $135M of deals; Calif. campus sells for $73M

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InvenTrust details $135M of deals; Calif. campus sells for $73M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* After Dec. 31, 2017, InvenTrust Properties Corp. divested two retail properties totaling 725,000 square feet for $96.5 million and a separate 265,000-square-foot retail property for $38.0 million.

* Campus Ardenwood, an affiliate of Deutsche Bank AG's realty investment unit RREEF, acquired the four-building, 323,000-square-foot The Campus @ Ardenwood office campus in Fremont, Calif., for $73.3 million, The Mercury News reported, citing Alameda County public records.

* A Murray Franklyn Inc. affiliate is looking to sell 4 acres of property owned by F-MAC Highland Park I and IV LLC along the Bel-Red Corridor in Bellevue, Wash., the Puget Sound Business Journal reported. The property is worth more than $30 million, the publication cited a Colliers International broker as saying.

* An affiliate of Summit Property Group sold The Summit Palms, a 352-unit, 400,154-square-foot apartment complex on 9.7 acres at 4491 NW 19th St. in Lauderhill, Fla., to private real estate firm FCP for $28.5 million, the South Florida Business Journal reported.

* An affiliate of FCA Partners sold the 155,250-square-foot The Shoppes of Boynton retail center, on a 15.8-acre site at 2202 and 2298 N. Congress Ave. in Palm Beach County, Fla., to an affiliate of Northbridge Investment Management for $27.8 million, the South Florida Business Journal reported.

* Strategic Storage Trust IV Inc agreed to acquire three storage facilities in Texas at 2919 Highway 146 in Bacliff, and at 10800 Red Bluff Rd. and 1503 E. Sam Houston Pkwy. S in Pasadena for about $22.2 million. The deals are expected to close in the second quarter.

* WPT Industrial Real Estate Investment Trust agreed to acquire a 224,000-square-foot, 100%-leased distribution property in Louisville, Ky., from Alberta Investment Management Corp. and a WPT Capital Advisors LLC affiliate for roughly $17.9 million. The transaction is expected to close in the second quarter.

* Apartment Investment and Management Co. started the development of the 226-unit Parc Mosaic apartment home community at 1550 Eisenhower Blvd. in Boulder, Colo. The development is slated for completion in mid-2019.

* Amazon.com Inc. plans to occupy more than 800,000 square feet of Duke Realty Corp.'s Premier 370 park in St. Peters, Mo., the St. Louis Business Journal reported. The facility is likely to open in the first half of 2019.

Additional coverage

Las Vegas Sands to sell Sands Bethlehem for $1.3B

KBS Strategic Opportunity REIT unit closes on $147M Calif. office purchase

Artis REIT buys 50% stakes in 2 Denver office buildings for US$70M

Global Medical REIT to acquire 4-building medical office portfolio for $64M

American Hotel details Q4'17 activities, makes board changes in 2018